VNL result of EGM

RNS
13 December 2010

VinaLand Limited

Results of EGM

Ho Chi Minh City – VinaLand Limited (“the Company” or “VNL”), the AIM-quoted investment vehicle established to target key growth segments within Vietnam's emerging real estate market, announces today that Special Resolution Numbers 1 and 2 were passed at the Extraordinary General Meeting of Shareholders (“EGM”) held on Friday, 10 December 2010.

There were six Special Resolutions proposed to Shareholders at the EGM. Special Resolution Numbers 1 and 2 amended the Company’s Articles of Association to give the Company ongoing authorisation to repurchase or redeem its shares, either on the market or by tender offer for cash at the prevailing net asset value per share.

The Special Resolutions that were not passed at the EGM related to the establishment of share purchase subsidiaries, the request for certain beneficial Shareholder information, an increase to the directors’ remuneration, and changing the name of the Company.

The Board, whose beneficial or controlled holdings collectively total 6,589,960 ordinary shares, recommended voting in favour of all resolutions at the EGM.

Commenting on the results of the EGM, Nicholas Brooke, Chairman of the Company, said: “Although the directors are disappointed that not all resolutions proposed at the EGM were passed, we are particularly pleased the resolutions regarding share buybacks and tender offers did pass. These provisions give the Manager a greater ability to respond to market conditions and provide value to shareholders.”

Enquiries:
Michael L. Gray
VinaCapital Investment Management Limited
Investor Relations/Communications
+84 8 821 9930
michael.gray@vinacapital.com

Hiroshi Funaki +44 20 7845 5960
LCF Edmond de Rothschild Securities, Broker
funds@lcfr.co.uk

Philip Secrett
Grant Thornton, Nominated Adviser
+44 20 7383 5100
philip.j.secrett@gtuk.com

Alastair Hetherington
Financial Dynamics, Public Relations (Hong Kong)
+852 3716 9802
alastair.hetherington@fd.com

Andrew Walton
Financial Dynamics, Public Relations (London)
+44 2072697204
andrew.walton@fd.com

Notes for editors:

About VinaLand Limited
VinaLand Limited (VNL.L) is a closed-end fund trading on the London Stock Exchange (AIM). Launched in 2006, VNL is the largest listed fund for investment in Vietnam’s emerging real estate sector. The fund focuses on the key growth sectors including residential, office, retail, hospitality and leisure, and high tech/industrial properties. The manager’s objective is to provide shareholders with an attractive level of income as well as creating a potential for capital growth. More information can be found at www.vinacapital.com/vnl.

About VinaCapital Group
VinaCapital Group is the leading asset management and financial services group in Vietnam. The Group combines its deep market experience and networks to generate strategic investment and financing products, alongside merger and acquisition activities. VinaCapital manages total assets valued at USD1.8 billion at September 2010. VinaCapital also has a stake in VinaSecurities JSC, a brokerage firm, and VinaProjects, a project and construction management joint venture. VinaCapital currently employs almost 200 investment personnel in its offices in Ho Chi Minh City, Hanoi, Danang, Nha Trang and Hong Kong. More information on the Group can be found at www.vinacapital.com.